Friday, 26 June 2015

Money Makes Money

Remember the old saying, "money begets money?" The saying has a ring of truth to it because there are many ways that you can use your money to make more money.
Some people have dreams and no goals. Dreams are fine for those who live in a world of fantasy but goals are for those who want financial well being and plan to make it their reality.
There is nothing wrong with dreaming, so let the dreamers dream on. But for those who are realistic about making money and becoming financially secure, you have to set realistic goals and work towards meeting those goals.
First of all, you have to understand that you can use money as a means to accumulate wealth. You can grow your money by investing it wisely, saving separately, managing your assets, and having patience. If you do these four things, your goals can be met and you are on your way to reaching your highest potential.
  • Investing wisely: Whether you work for a corporation, large or small, or own your ownbusiness, there are investment vehicles all around you that are designed to maximize the potential earnings from the dollars you invest and can make your money grow sevenfold over time.
  • Saving separately: You should always have one or more personal savings accounts that are kept independent of all other funds. These accounts may not accrue maximum interest, but they are safe and they can save and make you money in the long run.
  • Managing your assets: Most people can't afford to hire money managers, but that should not deter you. The average person, just like you, manage their money without outside help, and they do it well.
  • Patience: Patience is the key to all investment opportunities. If you put your money in the right investment vehicle, it will learn to drive itself and you can patiently sit back and watch it grow.
You have to let your money work for you. There are several "investment vehicles" that are available to use, such as 401k plans, company stock, annuity accounts, credit union savings, christmas clubs, and personal savings.
The growth of your money will depend on what your goals are and how you treat your money and your investments.

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